A crypto platform has been built using technology familiar to forex traders, potentially injecting new capital into the market.
Forex traders have long been interested in what cryptocurrencies have to offer. There’s just been one problem: they often aren’t available on familiar platforms.
Now, a company has launched a trading platform that unlocks access to crypto-centric products using MT5, meaning new digital assets as well as derivatives such as contracts for difference are available through a tool they know and trust.
CryptoAltum says its infrastructure has been built in response to growing demand from those who, until now, have only focused on foreign currencies. The company also believes the platform will prove useful for traders who want an alternative to buying and selling digital assets on crypto exchanges.
Points of difference
The team behind CryptoAltum acknowledges that the marketplace is competitive and becoming increasingly crowded. To this end, it has focused on addressing some of the main pain points that traders currently face when using existing platforms.
Know Your Customer, or KYC, checks have been a major sticking point for many — not least because of how entering passport details and identification numbers can be a time-consuming, arduous process. To this end, CryptoAltum says it provides a simple, fast registration process that eliminates as many steps as possible, allowing users to enjoy anonymity.
The CryptoAltum platform has also been optimized specifically to pave the way for seamless cryptocurrency trading, with lightning-fast order executions ensuring that users will never miss a beat when the markets are moving quickly. Leverage of up to 1:500 is available, meaning clients can trade significantly higher amounts than their deposits. CryptoAltum also claims to offer a typical Bitcoin spread of $3, with its research claiming the average among its rivals stands at $30.
MORE INSIGHTS FROM CRYPTOALTUM
HEREThrough contracts for difference, traders can speculate on the price movements of major cryptocurrencies such as Bitcoin (
BTC) and Ether (
ETH) without having to own the asset itself.
Aside from cryptocurrencies, the platform is also active in forex, gold and indices. Brought together, the company says it has the potential to become a one-stop shop for any trader’s needs — whether they want to long forex pairs, use Bitcoin for hedging, or rely on precious metals as a safe haven.
Getting involved
Customers who use CryptoAltum can fund their accounts 24/7 through “secure crypto wallets” that are provided through the platform. Deposits are accepted in Bitcoin, Ethereum,
XRP, Bitcoin Cash (
BCH), Litecoin (
LTC) and True USD. Once transactions are completed, most funds are stored in cold wallets. As well as being disconnected from the internet, this storage is distributed in four locations and is further secured thanks to antivirus programs and time-delayed access.
Acknowledging that some of its users may be brand-new to cryptocurrencies, the company notes that demo accounts are available to help them put strategies to the test, get acquainted with the system, and experiment without putting their assets at risk.
Safety and credibility are two of the top priorities for CryptoAltum’s experienced team. The company’s general manager, Amy Pepper, has more than 10 years of experience in the Contract for Difference space and is bringing “tremendous experience and insight” to its operations after previously working for the likes of FXPro and IC Markets.
With more than 60 crypto pairs on offer and new additions being made regularly, the company has high hopes of becoming a more established competitor on the scene.
